The net income for the first quarter increased to $53.60 million on a non-GAAP basis, compared to $32 million in the first quarter of 2005, a Cognizant release said on Wednesday.
The release said the company, based on current visibility levels, anticipates the revenue to be at least $317 million in the second quarter of 2006.
Fiscal revenue was expected to be at least $1.30 billion and the total headcount was expected to exceed 35,000 by the end of 2006.
"Our first quarter results were driven by escalating demand for our integrated set of services across our entire range of industry verticals. We experienced strong growth in our newer verticals, especially media and telecommunications and strengthened our leadership position in financial services, healthcare and life sciences," Lakshmi Narayanan, president and CEO said.
